(Eagle News) — Inflation remained at 4.5 percent in May, the country’s recorded level of inflation since March 2021.
According to the Philippine Statistics Authority, the flat inflation rate was due to mixed movements in the annual growth rates in the indices of the commodity groups.
The PSA said the annual growth rates in the indices of clothing and footwear; housing, water, electricity, gas, and other fuels; furnishing, household equipment and routine maintenance of the house; health; and restaurant and miscellaneous goods and services moved at a faster pace at 1.7 percent, 1.9 percent, 2.5 percent, 3.2 percent and 3.8 percent, respectively.
Inflation, however, decelerated further in the indices of food and non-alcoholic beverages at 4.6 percent; and alcoholic beverages and tobacco, 11.8 percent.
“Likewise, the double-digit annual hike in the index of transport slowed down to 16.5 percent during the month,” the PSA said.
The rest of the commodity groups posted the same annual growth rates they recorded the previous month.
In Metro Manila, in particular, inflation decelerated to 3.6 percent, from 3.7 percent in April 2021, the PSA said.
Inflation in Metro Manila was at 1.4 percent in May 2020.
Meanwhile, inflation in areas outside Metro Manila remained at 4.7 percent, the same inflation rate recorded in the area since March 2021.
According to the PSA, in May 2020, inflation in that region was at 2.3 percent.
